Marginal utility per dollar spent on good X is
a. total utility of X divided by its price.
b. marginal utility of X divided by its price.
c. the change in marginal utility of good X.
d. none of the above
b. marginal utility of X divided by its price.
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Refer to Figure 15-4. In the figure above, a movement from point A to point B would be caused by
A) an increase in the interest rate. B) a decrease in the price level. C) a decrease in real GDP. D) an increase in the price level.
In the Airline Pricing Strategies case discussed in the text, a product with fewer rules and restrictions can command a higher price
Indicate whether the statement is true or false
Refer to the table below. If the senior manager learns that either a Good or Poor market will exist when the drug is introduced to the market, which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug Y
B) Drug X
C) Drug Z
D) all of the drugs
The natural rate of unemployment exists when cyclical unemployment equals zero
a. True b. False Indicate whether the statement is true or false